US home construction rebounds

Afp, Washington

Construction of new US homes jumped in January, reversing the declines seen in recent months, government data showed Friday.

A flurry of activity in the South as well as in the normally frigid Northeast and Midwest sent construction of single-family homes up to its fastest pace in a decade for those regions, the Commerce Department reported.

Meanwhile, new building permits, which are a sign of supply in the pipeline, showed a shift toward apartments and more weakening in the key single-family segment.